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Marathon Oil sells Minn. SuperAmerica stores, refinery

Marathon Oil Corp. will sell a Minnesota oil refinery and SuperAmerica stores throughout the state to an investment firm for $900 million.

Marathon announced the sale on Wednesday, which will transfer ownership of most of Marathon's Minnesota assets to ACON Investments and TPG Capital.

The sale includes a refinery in St. Paul Park that processes 74,000 barrels of oil per day and 160 SuperAmerica convenience stores. Marathon is also selling six SuperAmerica stores in Wisconsin.

Marathon said in a press release that the decision to sell its Minnesota assets had to do with "ongoing efforts to ensure the company's asset portfolio is strategically aligned with its business plans."